The debate over the merits of and disadvantages of raising the federal minimum wage continues ad infinitum. There is considerable agreement that it needs to be higher. How much really is the question.
To begin with, there are many, many businesses that do not have minimum wage workers. Their starting pay is higher than the federal minimum wage of $7.25 an hour, or Missouri’s $7.50 mandate. Companies will tell you they can’t hire a good worker for the minimum wage. Also, company owners that do have some minimum wage workers would like to pay more but the consequences would harm them. If they paid more, their prices would be higher and they would not be competitive.
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